What are Closing Costs Exactly in San Francisco?

You’ve likely heard about closing costs, but do you know everything that they include? Check out our closing cost “FAQ” to learn more about what closing costs are all about.

What Are Closing Costs Exactly in San Francisco?

Closing costs refer to all of the fees that must be paid at the closing table. Depending on where you live, the fees and costs can vary. But generally, closing costs include, but are not limited to:

Notary fees

Transfer Costs

Transfer Taxes

Appraisal Costs

Inspection Fees

Origination Fees

Recordings Fees

Title Insurance

Underwriting Fees

Bank Fees

Courier Fees

Wire Transfer Fees

Liens against the home will need to be paid to clear the title

Credit Report Fees

Administrative Fees

Attorney Fees, If Applicable

The balance of your mortgage or loans against the home

Possibly repairs or pest control if this has previously been agreed upon

COMMISSIONS!

Who’s Paying?

While the buyer will usually pick up a number of theses, it is important to note, that the seller typically pays 100% of the commission. This will be about 6%+ of the final sale price. Other than your possible mortgage balance, this is by far the biggest cost when it comes to costs at the closing table. Negotiating the other costs during the sale process is becoming increasingly popular. In an effort to lure in more buyers, sellers are more frequently picking up the tab when it comes to the closing costs.

As a seller, you will also need to pay your share of the year’s property tax, up until the day of closing. Any HOA fees or other community costs should be prorated and paid at this time as well.

What Are Seller Subsidies?

This is an amount negotiated between the buyer and seller. It is the percentage the seller agrees to pay towards the closing costs. For example, you can offer to put 3k towards closing to help relieve some of the costs for your buyer. Overall, paying these subsidies are often a small price to pay to bring buyers to the table!

Can You Avoid These Costs?

Yes! By working with a direct buyer who will pick up all costs associated with the closing! A direct buyer will not charge you a commission, as they are not an agent. Many times, direct buyers will offer to pick up all costs, which will save you money and hassle at the closing table.

Are Repairs Included?

This is another one that is negotiated between the buyer and the seller. If the home is in need of some obvious repairs, the seller will often take care of these before putting their home on the market. However, if an inspection shows additional repairs are needed, a buyer may make his offer contingent on repairs being made. A buyer and seller can work this out before going to closing.

If you would like to learn more about the selling process or if you have any questions about selling your San Francisco home, send us an email using this form, or give our office a call now! (510) 600-3247

Get Your Fair Cash Offer: Start Below!

Sell your house fast in ANY CONDITION in CA. There are no commissions or fees and no obligation whatsoever. Start below by giving us a bit of information about your property or call (510) 600-3247...

Property Address*

Reason You Are Selling:

Phone*

Email

Comments

This field is for validation purposes and should be left unchanged.

Testimonials

“THANK YOU again for finally helping me get this property SOLD!!”

“My man Jim!!!! I got the wire in today!!! THANK YOU, THANK YOU, and THANK YOU again for finally helping me get this property SOLD!! As you know, I’ve had several other “cash buyers” come in through the house and I’m SO glad I decided to work with you. As you know, this was the FIRST house that I’ve even sold and I just want to say Thanks for walking through this “house selling newbie” through the process.

Marquisse T - Oakland, CA

“You guys are FAST!”

“WOW! You guys are FAST! I’ve been trying to sell this place for months (literally!) and lost all hope that anyone would ever buy this place! Thank you for helping me get through this rough time. I wish you and your team the best with all of your future endeavors.”

We are a real estate solutions and investment firm that specializes in helping homeowners get rid of burdensome houses fast. We are investors and problem solvers who can buy your house fast with a fair all cash offer.